PPA in need of overhaul
The law of unintended consequences is once again in evidence 10 years after the passage of the Pension Protection Act of 2006. The PPA was passed to bolster the stability of defined benefit plans and the Pension Benefit Guaranty Corp. Instead, its greatest impact was on defined contribution plans, and it might have hastened the demise of the defined benefit plans it was designed to strengthen. The outcome is a reminder that legislators must not consider just the results [...]